Raymond James Financial (NYSE:RJF) Given New $158.00 Price Target at UBS Group

Raymond James Financial (NYSE:RJF) had its price target decreased by UBS Group from $176.00 to $158.00 in a research report released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. Bank of America raised their price objective on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Barclays reduced their price objective on Raymond James Financial from $196.00 to $174.00 and set an “overweight” rating for the company in a research report on Wednesday. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $176.92.

Raymond James Financial Price Performance

Shares of RJF stock opened at $147.73 on Wednesday. The stock has a 50 day moving average of $153.06 and a two-hundred day moving average of $160.15. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. Raymond James Financial has a 12 month low of $122.81 and a 12 month high of $177.66. The company has a market capitalization of $29.12 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.07 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company earned $2.93 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts expect that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is currently 21.14%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Purpose Unlimited Inc. acquired a new position in Raymond James Financial during the fourth quarter worth $193,000. Stance Capital LLC raised its position in Raymond James Financial by 4.5% in the 4th quarter. Stance Capital LLC now owns 16,670 shares of the financial services provider’s stock valued at $2,677,000 after purchasing an additional 718 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Raymond James Financial by 18.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,015 shares of the financial services provider’s stock valued at $1,127,000 after purchasing an additional 1,107 shares during the last quarter. World Investment Advisors raised its position in Raymond James Financial by 0.5% in the 4th quarter. World Investment Advisors now owns 31,404 shares of the financial services provider’s stock valued at $5,043,000 after purchasing an additional 156 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in Raymond James Financial by 3.8% in the 4th quarter. Corient Private Wealth LLC now owns 33,066 shares of the financial services provider’s stock valued at $5,310,000 after purchasing an additional 1,219 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.